CHANCELLOR Rishi Sunak's budget has raised a lot of eyebrows among Tory backbenchers, claimed BBC's Laura Kuenssberg, as the Government launched the biggest spending plan since 1992.

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Speaking on Newscast, the BBC political editor claimed Tory MPs have been left concerned by the Chancellor's budget plan announced on Wednesday. Rishi Sunak, who succeeded Sajid Javid only last month, unveiled huge spending plans to the Commons this week ending 10 years of Tory austerity measures. Laura Kuenssberg said: “Absolutely massive. Gone are the days when you thought the Tory doctrine was let’s restrict borrowing as much as we can and let’s keep a very, very firm handle on the spending tiller.

“But the new Chancellor is absolutely adamant saying look, the economics have changed, we’re stuck in this world where we’re going to have low interest rates for ages.

“So if you can borrow really cheap, you’d be crazy not to.”

The Chancellor unveiled a host of new measures to help companies flourish across Britain. They included a £5billion boost for exports, as revealed by the Daily Express, to encourage overseas buyers to snap up UK goods and services.

He also announced £130million for start-up loans to fire up growth, £200million for a British business bank, £200million for life sciences, and help for entrepreneurs.

Mr Sunak said: “We know that to put more money in people’s pockets, we need a thriving private sector. That is what drives growth, creates jobs, lifts living standards.

“So the second part of our plan for prosperity is to unleash the power of business.”

The £5billion package will be made through UK Export Finance (UKEF), the Government’s export credit agency. The Budget boost will hike UKEF’S lending capacity from £3billion to £8billion, the biggest amount yet offered.

Mr Sunak believes the loan deals will encourage investment in UK firms to help the Government’s effort to spread prosperity and opportunity.

About £2billion of the fund will be offered for exports that encourage green growth. A further £1billion is earmarked for the defence industry.

A shake-up of entrepreneurs’ relief will limit the tax break available to those selling their businesses to £1million over a lifetime.

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Mr Sunak ignored calls to abolish the relief completely, claiming the Government should not discourage genuine entrepreneurs who rely on it.

He added: “We need more risk-taking and creativity in this country, not less.”

Instead, he announced he would reduce the lifetime limit from £10million to £1million.

The rules allow business owners of two years or over to pay fewer capital gains tax when they sell (10 percent rather than 20 percent), but this relief will now be capped at £1million for any one person.

The Chancellor said 80 percent of small businesses would be unaffected, but the Treasury would save £6billion over the next five years.

He is giving most of that in savings straight back to small businesses.